With youth, innovation and investment, the people of Vietnam have good reason to be optimistic about the future of the economy, and development of the digital economy over the next 20 years. The paths that may be taken for the development and growth of Vietnam through digital transformation are not risk-free, however, and will need to be navigated carefully.
Like many countries around the world at this point in history, the main challenge in the development of the next wave of the digital economy (implementing technologies such as artificial intelligence, advanced automation, digital-biological-physical networks and advanced GPS tracking, cloud-based platforms and blockchain systems) will be to lift labour productivity while maintaining high employment levels, social inclusion and equality; to transition the labour market and government systems along with the systems of wealth generation.
This is the first report in a larger study, Vietnam’s Future Digital Economy, an innovative joint project between Australia’s Data61|CSIRO and Vietnam’s Ministry for Science and Technology. It examines the state of Vietnam’s economy and digital economy at the beginning of 2018, and the trends that will affect its development over the next 20 years.
The broader study will explore how different rates of digital transformation could create a number of plausible futures for Vietnam’s digital economy. The project will also look into the possible impacts of digital technologies on two of Vietnam’s more significant industrial sectors: manufacturing and agriculture.